Latest News

Michele Mandel, Toronto Sun

Jun 20, 2014

, Last Updated: 12:24 AM ET

These millionaires were led to believe that money would buy their way into Canada — and now they’re suing Ottawa for millions more for not letting them in.

They are more than 1,460 super wealthy investors, 1,350 from Hong Kong, stuck in immigration limbo after the federal government quietly announced the cancellation of its 25-year-old Immigrant Investor Program — the popular ticket for rich foreigners to buy citizenship and fast track access to our health and education resources as long as they had a net worth of $1.6 million and willing to lend their new province $800,000 interest-free for five years.

The controversial program, with a backlog of more than 19,000 files, was cut during the February budget following criticism that it let foreigners buy their way into Canada without doing much for this country in return.